Thrivent Financial for Lutherans Has $1.25 Million Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Thrivent Financial for Lutherans reduced its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 9.0% in the 3rd quarter, Holdings Channel reports. The fund owned 7,004 shares of the asset manager’s stock after selling 695 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Affiliated Managers Group were worth $1,245,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMG. Atlanta Consulting Group Advisors LLC acquired a new stake in Affiliated Managers Group during the 3rd quarter worth approximately $241,000. Natixis Advisors LLC raised its holdings in shares of Affiliated Managers Group by 3.1% during the third quarter. Natixis Advisors LLC now owns 12,856 shares of the asset manager’s stock worth $2,286,000 after acquiring an additional 383 shares during the period. OneDigital Investment Advisors LLC lifted its position in Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after acquiring an additional 90 shares in the last quarter. Huntington National Bank boosted its stake in Affiliated Managers Group by 7,575.0% in the 3rd quarter. Huntington National Bank now owns 307 shares of the asset manager’s stock worth $55,000 after purchasing an additional 303 shares during the period. Finally, KBC Group NV increased its holdings in Affiliated Managers Group by 17.4% during the 3rd quarter. KBC Group NV now owns 980 shares of the asset manager’s stock worth $174,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $187.54 on Monday. Affiliated Managers Group, Inc. has a 52-week low of $134.61 and a 52-week high of $199.52. The company has a market cap of $5.67 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.69 and a beta of 1.18. The stock’s 50-day simple moving average is $185.98 and its 200 day simple moving average is $172.22.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $4.08 EPS. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMG. Barrington Research cut their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $196.50.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.